HK Stock Market Move | Sinotruk Jinan Truck (03808) surged over 3% as the company's heavy truck export sales continued to grow significantly. Analysts expect the new energy heavy truck business to achieve a turnaround in the second half of the year.

Sinotruk Jinan Truck (03808) surged over 3%, and as of the time of writing, it is up 3.33% at HKD 40.96, with a trading volume of HKD 335 million. CICC released a research report stating that Sinotruk Jinan Truck's performance in the first half of 2026 exceeded expectations, with the companys revenue increasing by 39.2% year-on-year to RMB 70.84 billion, and net profit attributable to shareholders increasing by 26.2% year-on-year to RMB 4.33 billion. The revenue and net profit growth driven by structural optimization surpassed the firms expectations, with profits exceeding their forecasts after accounting for foreign exchange conversion. The firm believes that given the significant growth in the company's heavy truck sales and exports in the first half of the year, as well as the expectation that the company's new energy heavy trucks are likely to turn a profit in the second half of the year. In terms of sales, Soochow pointed out that Sinotruk Jinan Truck's domestic/export heavy truck sales in the first half of 2026 were 85,000/108,000 units, up 26.3%/+57.1% year-on-year. The increase in domestic sales is mainly attributed to the "trade-in" policy and the continuous breakthrough in new energy heavy truck sales supported by ultra-long-term government bonds. The companys new energy heavy truck sales grew by 138.8% year-on-year, and its market share increased by 3.9 percentage points, ranking first in the industry. The increase in exports was primarily driven by developing markets such as Africa, Southeast Asia, and Latin America.